HC Wainwright Cuts Nouveau Monde Graphite (NYSE:NMG) Price Target to $3.00

Nouveau Monde Graphite (NYSE:NMG) had its target price trimmed by HC Wainwright from $3.25 to $3.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a buy rating on the stock.

Nouveau Monde Graphite Price Performance

NYSE NMG opened at $1.44 on Wednesday. Nouveau Monde Graphite has a 52 week low of $1.24 and a 52 week high of $3.21. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.02. The stock has a market cap of $161.41 million, a price-to-earnings ratio of -1.99 and a beta of 0.83. The company has a 50-day moving average price of $1.64 and a two-hundred day moving average price of $1.99.

Nouveau Monde Graphite (NYSE:NMG) last issued its quarterly earnings results on Wednesday, August 14th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.03. Analysts forecast that Nouveau Monde Graphite will post -0.56 EPS for the current year.

Hedge Funds Weigh In On Nouveau Monde Graphite

A hedge fund recently bought a new stake in Nouveau Monde Graphite stock. General Motors Holdings LLC bought a new position in shares of Nouveau Monde Graphite Inc. (NYSE:NMG) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 12,500,000 shares of the company’s stock, valued at approximately $28,625,000. Nouveau Monde Graphite makes up about 10.7% of General Motors Holdings LLC’s holdings, making the stock its 4th largest holding. General Motors Holdings LLC owned about 18.63% of Nouveau Monde Graphite as of its most recent SEC filing. Institutional investors own 41.09% of the company’s stock.

About Nouveau Monde Graphite

Nouveau Monde Graphite Inc engages in the acquisition, exploration, development, and evaluation of mineral properties in Canada. It primarily explores for graphite. The company's holds interest in the Matawinie Mine Project and the Battery Material Plant project situated in the Montreal, Quebec.